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Thursday, 9 May 2013

A good example for traders

Posted on 22:00 by Unknown
Sugar Kyle who runs her own blog has a shop in Bosena, Molden Heath lowsec. Her little business is pretty successful, despite obvious mistakes (get a JF already!)

Is it some miracle? No. The lack of formal economics knowledge is irrelevant compared to the proper attitude. She has it, so her fate is to become damn rich. Her example is important exactly to show that being successful in business is not about using the proper tools, having proper item selection, time efficiency or other know-how (though they clearly affect the magnitude of success), but having the proper mindset:
  1. Wants to serve her customers: This is a make it or break it issue. If you are in to rob everyone and run away with huge spoils, you have like 5% chance to make a great heist and 95% chance to leave busted. If you are interested in mutually profitable cooperation, you have 100% chance to make some profit.
  2. Does what she wants: everyone, including corpmates, commenters and JF-obsessed goblins tell her what to do. She ignores them and does what she plans. If these people had a good idea how to run a lowsec hub, they'd done it themselves. So she is completely right to listen to the one who has the most experience in running a lowsec hub in Molden Heath: herself. Listening to people's opinion is a social mistake, most people have great difficulty learning to ignore them.
  3. Doesn't want to market-PvP: people tend to spend great resources to defeat this or that competitor. They usually succeed, at the cost of losing much more money than it would cost to just coexist.
  4. Doesn't want to get rich: another crucial thing, such ambitions just lead to overwork (which leads to exhaustion and multi-billion mistypes) and also leads to risky investments (that end up as a disaster). Working on your own schedule, working for the thing itself is the best way to have a steady income.
  5. Focused on graphs, trends instead of direct income (or opinions): Rome wasn't built in a day. If you can't find joy in the decreasing price of Light Neutron Blasters II, you won't last long here.
So the business tip for today: subscribe her blog and try to absorb the above.
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